Google in Negotiations for $23B Cloud Security Acquisition with Wiz

Alphabet eyes $23 billion Wiz acquisition to boost cloud security offerings. Learn how this move could enhance Google’s cloud business growth.

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Caption:Google logo with Wiz cloud security company logo.

The Highlights:

Alphabet, Google’s parent company, is in advanced talks to acquire Wiz for around $23 billion in what could be its biggest acquisition ever.
Wiz offers a comprehensive cloud security solution by scanning data from various cloud platforms like Amazon Web Services, Microsoft Azure, and Google Cloud for security risks.
The potential acquisition of Wiz is seen as a strategic move to strengthen Google’s cloud business, which showed significant growth of 28% to $9.57 billion in the first quarter of this year.
Founded by former Microsoft employees four years ago, Wiz had recently raised a $1 billion Series E funding at a $12 billion valuation and was on track to go public before the possibility of becoming part of Alphabet through this cloud security acquisition.

Alphabet is in advanced talks to acquire Wiz for around $23 billion, a move that could fortify Google’s cloud business and mark its biggest acquisition ever.

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Google in Talks for $23B Cloud Security Acquisition with Wiz

Alphabet, the parent company of Google, is in advanced talks to acquire Wiz for approximately $23 billion, as reported by The Wall Street Journal. Wiz specializes in cloud security solutions that cover various platforms like Amazon Web Services, Microsoft Azure, and Google Cloud. This potential acquisition aims to strengthen Google’s cloud business which saw a 28% growth reaching $9.57 billion in the first quarter of this year.

The deal between Alphabet and Wiz is yet to be finalized but could materialize soon according to sources. Founded by former Microsoft employees Assaf Rappaport, Ami Luttwak, Yinon Costica, and Roy Reznik four years ago, Wiz had recently raised a significant $1 billion Series E funding at a valuation of $12 billion.

With an annual recurring revenue of $350 million at the time of its latest funding round, Wiz was on track for further expansion through acquisitions before potentially going public. However, becoming part of Alphabet may lead them down a different path.

Notably backed by investors such as Andreessen Horowitz and Sequoia Capital among others mentioned earlier; neither Google nor Wiz has responded immediately to requests for comments regarding this development. This potential acquisition marks a significant move within the cloud security industry.

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Conclusion:

Alphabet, Google’s parent company, is in advanced talks to acquire Wiz for approximately $23 billion. The deal aims to enhance Google’s cloud business by leveraging Wiz’s all-in-one cloud security approach that scans data from various cloud platforms for security risks.
Wiz, founded by former Microsoft employees, had recently raised a significant amount of funding and was on track for potential acquisitions and an IPO. However, the potential acquisition by Alphabet could lead Wiz down a different path towards strengthening Google’s presence in the cloud security market.
The acquisition of Wiz by Alphabet signifies a strategic move towards bolstering cloud security offerings. This development highlights the increasing importance of robust cloud security solutions in today’s digital landscape.